Here’s how buyers and sellers can navigate our crazy market.
Are you looking to buy or sell a home in 2022? If so, you want to make sure you have a good grasp of what’s happening in our market. That’s why today I want to take a look at our current market and what it means for you.
“Buying right now is tough, but not impossible.“
First, the demand for houses is still very strong. Showing Time, a company that tracks showings across the U.S., reported that December of 2021 was the busiest month for showings in the last five years. If you check out the video at 0:35, you can see just how much demand there is.
While demand is high, inventory is incredibly low. The graph at 0:52 in the video shows that there were only 409,000 active listings in January of 2022. That may seem like a lot, but in January of 2020, we had over a million active listings. We’re at 40% of the inventory we saw just a couple of years ago, and it’s had a huge impact on our market.
Our inventory situation means that there will be competition for buyers. I won’t sugarcoat it; buying a home right now will be tough. However, that doesn’t mean it’s impossible or even a bad idea. People still successfully purchase houses every day, and interest rates remain historically low. If you buy now, you’ll have more time to grow equity and take advantage of our high appreciation.
For sellers, this market is fantastic. You can likely get an amazing deal for your home if you work with the right agent. If you need to buy after, you could negotiate terms that let you stay in your old home while you look for a new one. You have options, and I’d love to discuss them with you further.
If you have any questions about today’s topic, please call or email the Anthony REALTORS team. We’d love to help you!